China December CPI expected at 4%

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China's statistics agency is getting ready to release some key economic indicators on Thursday. Of course, the most closely-watched number is the Consumer Price Index for December, the main gauge for inflation.

Many analysts expect prices will continue to fall, to around four percent growth for the month.

Zhang Ping, head of China’s top economic planner, says the GDP growth target for 2012 is around eight percent. The target for CPI is around four percent.

Ma Jiantang, head of the National Bureau of Statistics, warns that the pressure of rising prices remains in the medium to long term. That’s because costs of labor, land and resources continue to climb, along with imported inflation.

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